It's the same for me, the game is actually running very fast with everything set to maximum but the camera has to be in lara's neck or close to a wall for some reason to make it rendering properly so it's not playable :(
this is how it looks for me:
[Image: http://i191.photobucket.com/albums/z13/Mileena_07/snapshot24.jpg ]
on 1.1.21 and 1.1.23, fedora 11 x86_64 nvidia geforce 9800 gtx+